Gries Financial LLC Has $2.79 Million Stock Position in FedEx Corporation (NYSE:FDX)

Gries Financial LLC grew its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 30.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,451 shares of the shipping service provider's stock after acquiring an additional 2,671 shares during the quarter. Gries Financial LLC's holdings in FedEx were worth $2,791,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Transce3nd LLC acquired a new position in FedEx during the fourth quarter worth $26,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of FedEx during the 4th quarter worth approximately $28,000. Runnymede Capital Advisors Inc. acquired a new position in FedEx in the 4th quarter valued at $32,000. Accredited Wealth Management LLC acquired a new position in FedEx in the 4th quarter worth about $35,000. Finally, Abound Financial LLC bought a new stake in shares of FedEx in the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Price Performance

Shares of FDX traded up $5.94 during midday trading on Tuesday, hitting $231.67. 1,833,292 shares of the company traded hands, compared to its average volume of 1,853,878. FedEx Corporation has a one year low of $194.30 and a one year high of $308.53. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15. The firm has a market cap of $55.51 billion, a P/E ratio of 13.72, a PEG ratio of 1.18 and a beta of 1.35. The stock has a 50-day moving average of $226.63 and a 200-day moving average of $237.92.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The business had revenue of $22.20 billion for the quarter, compared to analysts' expectations of $21.86 billion. During the same period last year, the firm posted $5.41 earnings per share. As a group, sell-side analysts predict that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd were issued a $1.45 dividend. The ex-dividend date was Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.50%. This is an increase from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio is presently 34.36%.

Insider Buying and Selling

In other news, Director Paul S. Walsh sold 3,610 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total transaction of $860,226.90. Following the sale, the director directly owned 15,513 shares in the company, valued at approximately $3,696,592.77. This represents a 18.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R Brad Martin sold 2,123 shares of FedEx stock in a transaction on Monday, July 7th. The shares were sold at an average price of $241.75, for a total value of $513,235.25. Following the transaction, the director owned 8,935 shares in the company, valued at approximately $2,160,036.25. This trade represents a 19.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,343 shares of company stock worth $2,228,816 in the last quarter. 8.87% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FDX shares. Stifel Nicolaus set a $315.00 price target on FedEx in a report on Wednesday, June 25th. Wells Fargo & Company upped their price objective on FedEx from $220.00 to $235.00 and gave the stock an "equal weight" rating in a research note on Wednesday, June 25th. TD Cowen decreased their price target on shares of FedEx from $310.00 to $269.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. Stephens reiterated an "overweight" rating and issued a $300.00 price objective on shares of FedEx in a research report on Tuesday, May 20th. Finally, UBS Group decreased their price target on shares of FedEx from $311.00 to $297.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, FedEx currently has an average rating of "Moderate Buy" and an average target price of $283.25.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.